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20131210
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Search Results 0 to 49 of about 64 (some duplicates have been removed)
Bloomberg
Dec 4, 2013 9:00pm EST
. the wildcard, aviation nation. you've got to write -- fight for your right to keep your miles. and in the city, the smog solution. you actually have a building that eats pollution for lunch. and move over. someone else is coming into boston. the fans are not happy. but kick it off with the tale of two cartels. using the word cartel often conjures images of colombian drug warts and machine guns. -- drug lords and machine guns. merriam-webster defines a cartel as "a group of businesses that agree to fix prices so they will all make more money." that sounds illegal to me. and that is exactly why the hammer was dropped on six banks. deutsche bank, royal bank of scotland, jpmorgan citigroup -- jp morgan, citigroup, and rbs. these are rates that banks charge each other tomorrow. >> what is shocking about the scandals is not just the manipulation of benchmarks, though it a serious infringement, but also cartels between a number of financial players. we want to send a clear message that the commission is determined to sanction these cartels in the financial sectors . enforcing competition rules will
Bloomberg
Dec 7, 2013 6:00am EST
it and clean it will be profit. growth is global derived in cities. when we think about where big, urban populations, that is where you have big concentrations of wealth and concentrations of rising income. us is a waying for to make the grid better. use your electric power utilities better. >> we are talking about these water,rends -- transport, smarter cities. what does this mean as far as u.s. versus europe and u.s. versus china? necessarilynot based on, enough to own a company in the u.s. or china. they focus on global companies. from our view, we do prefer europe over the u.s. at this point from a tactical standpoint the cubs we are seeing a change at the margins that europe is going to vote -- standpoint because we are seeing a change at the margins. >> i am looking at this euro zone economic senses. you say that you gradually gdp will catch up. >> that tends to be a leading indicator. >> as for china, what are you seeing? >> they posted a strong gdp number in the last quarter. we do see that china is on a growth trajectory that can go to bad --nd that is not so so .5% and that is
Bloomberg
Dec 6, 2013 2:00pm EST
. and saving an ancient city art.gh we will tell you what pablo picasso's grandson is doing to was once partich of the alexander the great empire. we are back in a few minutes. >> welcome back to "money moves" on bloomberg television and on yourg all day long tablet, phone, and bloomberg.com. some argue the fed will reduce this month sooner than previously thought. credit specialists just one paying extra close attention. credit hedge fund manager recently shared her insights as the environment. she wrote a book as well, "investing in credit hedge funds oz." as she says, everyone is exposed to credits whether they realize not. >> the most interesting for me is the fact that the credit evolve.ontinues to and sitting on the seat, you know, on the front row managing actual portfolio for institutional investors when i look at where we were coming out of the credit crisis up to today, it's amazing the speed with which the market has evolved and also the expense of the fed intervention since then. thend i know that one of reasons that you actually wanted to work on the book is because you were the on
Bloomberg
Dec 9, 2013 4:00am EST
, it was about the same time ms. tech city. tech city is this country's most important technology clusters and in fact one of the world's most important technology clusters. the fact that the government and private sector can work together , if you look at media city and manchester and every other big city, tech city has provided a blueprint by which these clusters of businesses can come together. the most important thing is atop the story up in terms of how successful tech city has been to this country. there are so many other things that can be done. the doubling of the start up an important part of backing a proven winner which is small business. >> one of the things i've yet to truly feel is the link from a geographical point of view between what is a hundred meters down the road that way and what is a hundred meters up the road that weight. we saw the technology boom collapse in 2000, what that did was act as a kickstart her for what was a huge evolution of the tech scene. with having a similar thing in financial services. it is get these two -- starting but you sense that we are in t
Bloomberg
Dec 7, 2013 4:00am EST
them within an hour. you wanted them today. we started that in one city and rolled it out to three, then five and we'll go to 25 next year. things like touch screen, touch glass windows, we'll slowly roll it out as we get the consumer experience right. >> what about the perception problem? a lot of people still think ebay is auction. you're much more than that. that's what they still think. >> the proof is in the pudding. 70% to 80% of our items are fixed price. you see more and more people coming to ebay. the growth has been accelerating all year long. more and more consumers are coming to ebay. they are telling their friends. perception takes time to change but we see consumers responding. >> what is the goal? to be amazon or something different than amazon? >> well, we're very different in that our focus is on nabling commerce. >> are we to assume that anything we want should be available on ebay? >> yes, anything you want. including, we're partnering with retailers all over the world. we don't compete with them. you can go on ebay today and get things from bail sellers in the
Bloomberg
Dec 6, 2013 4:00am EST
-- governor of the bank of england has talked about a strong city of london. he still sees finance as being a large part of the british economy. is that the right course of action? to bewould like finance strong but we would like a broader-based economy which goes back to this earlier theme about the right infrastructure. there is lots of opportunity for growing other industries. america does a better job of creating new businesses all the time and has real intellectual debates about the right things to do. we haven't really got that level on here in the u.k. about where we should be positioning our macroeconomy for growth going forward. we would like to play a bigger role in all of that. we would also like to play a bigger role in investment. we have got plenty of money to invest here in the u.k. >> is that changing? as we see more infrastructure, is the u.k. being more in sync with the u.s.? >> what we saw after the tech situation where a lot of great companies were created. google, facebook, apple, guess where they all came from. they all came from one country. we need to see real innova
Bloomberg
Dec 6, 2013 3:00am EST
. we have some big announcements coming through from tech city today. we will get analysis on what we are going to learn today. it is going to be an interesting announcement with some very high profile faces at this event. plus we have the c.e.o. of legal in general. that is coming up on the first hour of "the pulse." diverse, fascinating. it is going to be a busy two hours. >> yeah, it certainly is, guy. i'm looking forward to it. "the pulse" in about 12 minutes from now world leaders are mourning the death of nelson mandela today. the former south african president died yesterday at the age of 95. joining me now on the phone is the former ambassador. great to have you on the program. it is a very sad day. how will you remember nelson mandela? >> first of all, thank you for having me. it is a very sad moment for all of us. nelson mandela was a father to all of us. during the struggle and even after. when we got our independence because he was our first president, he became our first president. he has always been the father, ready to listen to advice. disputes could be resolved. >> wh
Bloomberg
Dec 9, 2013 6:00pm EST
it in kindergarten. in astoria, first grade. a, first grade. today, thisd states morning, the city of chicago announced a partnership with us, computer science is going to become a core subject in every school in the city of chicago. the city of chicago is leading the country. the city of new york announced a partnership with code.org. is, i live inion san francisco, why is it san francisco, the bay area leading the country when it is a place where all the technology is created? how come our schools do not have computer science? why is it that only one or two cities? >> fascinating things. interesting to see chicago. you learn to vote early and code early. li, thank you. heading to the apple store? technology could be tracking you. on yourlic concierge iphone. that story next. ♪ >> welcome back. using a new location technology to track a shopper's location inside of its retail stores known as ibeacon. about appletion products as they walked through the store. jon erlichman full stop is this creepy or cool or both? -- jon erlichman. -- is this creepy or cool or both? >> it could be both. the
Bloomberg
Dec 8, 2013 1:00pm EST
in and buy the kings and move the team to seattle. but a group partnered with the city of sacramento and came up with a clever real estate deal to help keep the team in california. >> i came to california with no money. everything i have i owe to the state of california. >> next week, this man has completely revitalized the nba franchise and he is not satisfied. hear about his plans for a brand-new arena in san francisco next week on "sportfolio." in the spring of 2013, most nba analysts thought the sacramento kings were playing out the spring. a deal was in place to sell the team and moving to seattle, but mayor kevin johnson led the effort to find investors to match the offer. cory johnson shows us how a team of tech moguls has the kings poised to achieve great things. >> it is ripe with tech team owners. there's a new ownership group for the sacramento kings. >> i think of it as a social network. >> he is hoping it will turn around a moribund franchise. he is not going it alone. >> these are truly smart people. >> people like paul jacobs and chris kelly. >> this ownership group has the mos
Bloomberg
Dec 6, 2013 1:00pm EST
have it in five cities. it will go to 25 next year. we started in one or two regions and we will slowly roll it out. >> what about the perception problem? a lot of people feel like ebay is an auction. you are much more than that, but that is still what they think. >> 80% of our items are fixed price. you see more and more people coming to ebay. our new active user growth has been accelerating all year long. more consumers are coming to ebay. they like what they see and they are telling their friends. that will take time to change, but the real experience is a great one and we can -- we see consumers responding. >> is the goal to beat amazon? >> we're very different. our focus is on enabling commerce. >> should we assume that anything we want will be available on ebay? >> yes. anything you want. we are partnering with retailers all around the world. we do not compete with them. you can get angst from sellers in the united states, things from sellers all over the world. you can get things from best buy, who with on ebay. >> what can i get on ebay that i could not get on amazon? >> you can
Bloomberg
Dec 6, 2013 6:00pm EST
're not publishing any numbers on it, but what we have done is in three cities, we partner with retailers so that when you have a situation and you want something to date like these gloves and you do not want to waste the afternoon away or have it delivered to you tomorrow, you want it now. you go to ebay now and order the gloves and the courier will have it to you within an hour. howhen i tell us more about it is going? i download the app. there are a few reviews. >> we are building the consumer experience. when you build a new experience, you have got to get the experience right. the consumers that are using it like it a lot. it is evidence that we think it is successful. we have expanded it from one market to three and to five. we just buy a company called shuttle that will help us expand to more cities across the u.s. >> amazon made a lot of headlines a few days ago stalking about deliveries by drones. they are working on octocopters. >> no, we're not focusing on long-term fantasy. we are focusing on things that will change that tumor -- consumer experience. >> other companies are also e
Bloomberg
Dec 5, 2013 6:00am EST
and they have to deal with the city, state, and federal regulation. >> tim talked about it earlier, but i think you will see over the next two or three years, you will see governments -- local, federal, international governments or non-u.s. governments, get involved in a coastal -- in a whole slew of technology related things. as it relates to businesses like uber, as they scale up you will have local cities trying to figure out how it relates to their existing franchises an existing fleets. .t will be very uneven i am saying generally government should stand back away from this le atse government's ro this stage, you can't actually discern what the new economy -- >> for example, do you predict the city of new york will stand shares uber takes market from limos and taxicabs? >> the previous it ministration would have. the new administration, we will see. >> you have stuff and you want to share it and you make money on it. when does regulation makes sense? you had a report yesterday uber brings and $20 million a week. should they be regulated and taxed like a regular taxi commission? number was
Bloomberg
Dec 5, 2013 10:00am EST
schatzker and stephanie ruhle. >> good morning. it is thursday in new york city. you are watching "market makers." i am erik schatzker. >> i am stephanie ruhle. after a week and a half, you may not be excited about it. -- allquote mariah carey i want for christmas is new -- >> got a change the topic very quickly. -- got to change the topic very quickly. we have an unbelievable lineup. >> we are already getting calls saying that joe baratta is on, i want to cancel meetings. then we will be speaking with alan mullally. i will share the interview i had yesterday afternoon. herbalife.ing >> let's not forget about bill gross. >> who can forget the bond king? for now, let's get to the newsfeed. it is the top business story from around the world. the u.s. economy grew faster in the thor quarter than first figures showed. up from the initial estimate of 2.8%. the biggest increase in inventory since 1998 is the reason. two low-fare carriers will benefit from the merger that is creating the new american airlines. southwest air and virgin america will gain flight slots at laguardia airport. settleme
Bloomberg
Dec 6, 2013 7:00pm EST
.pt ingrid city. -- bankrupt city. what happened to the rent -- b rand? >> for 30 years we lost our way. does a 100 and 11 year brand have what it takes to come back? hollywood studios are squeezing more dollars into their weekend box office report this year. they are doing it by adding ticket sales from thursday shows. joining me from los angeles to talk about that and the big hollywood movie season is the at an media analyst entertainment website. good to see you again. paul, how did thursday become the new friday for the box office. >> it has become the new friday. studios love to have midnight screenings on a friday, so that audiences can get in and see a movie, talk about it via the virtual water cooler on facebook or twitter. and by getting to see those movies early they are the first one to talk about it. it it builds buzz for the coming weekend. we love seeing these previous work to -- moved to 8:00 p.m. leading into., midnight screenings. at the end of the day, i don't inc. it affects the bottom line dollar at the end of the run. i think what is going to occur is going to occur. but
Bloomberg
Dec 9, 2013 5:00pm EST
reaction? >> when you think about the combination of a city like detroit with the incredible history that it brings to the onket, it is history based design, manufacturing, craftsmanship, worth ethic -- work ethic. not for one moment can you diminish the issues and challenges that lie ahead for the city. for us to come here and base our manufacturing facility here combined with great design, wonderful value and equality watch made was swift parts that is assembled using swiss equipment, we thing we have done something very compelling. .his is the actual watch this is what i was talking about a few minutes ago. to my right, you can probably see the limited edition. in celebration of the wright brothers who are steeped in bike manufacturing, we produced a 25 bicycles.on they retail for $2950. fantastic bike. what is next? you said henry ford is the icon that will be ordered -- honored next year. what can we expect to see? >> you will see a very limited edition iconic watch. i'll will be part of what we have lunch, a foundry. is a very broad concept. we had to get a 100 year old brand
Bloomberg
Dec 9, 2013 7:00pm EST
. these sparkling watches are not in the shop windows of london or zÜrich. is the largest city in nigeria. here, the wealthy used to have to go abroad for luxury staples. now, big brands come to them. >> it is a big luxury for the brands to be here. end, butat the highest there is also a middle class that is growing here that also wants access to luxury brands and brands from around the world. >> wealth flowed into nigeria as crude oil pumped out from 1960 on, and this is expected to grow in 2014, andent that is according to a bloomberg survey. unsurprisingly, international brands are keen to get a foothold. one of them is the german sports hasmaker porsche, which operations in victoria. largestis the fourth area globally for porsche, and the emerging markets are with chinare key, even with africa now. >> with more and more nigerians able to afford a 911, you can expect more flashy unveilings. bloomberg. >> up next, mercedes now sells 13 different models. 25 years ago, it sold just four. we will look at a growing trend of designing models for your specific tastes. stay with us. ♪ >> bankrupt
Bloomberg
Dec 6, 2013 6:00am EST
. >> tell us about the remembrances. primarily, it is a johannesburg event. this is the biggest city in south africa. it is where the he spent the bulk of his adult life. they are announcing what they plan to do now. quite a lot will happen on the island where he was imprisoned. most of the events will take place in johannesburg. there are press conference is being called this afternoon. they will be 1:00 london time. in cape town, desmond tutu will be speaking about now. >> we will look forward to that. i'm curious, he retreated from public life for many years. what is the ceiling of the lack of moral void now in south africa? that, -- i think that he has been out of the public for many years. he has not been seen since the 2010 world cup. nevertheless, he is a big figure. they appear to have lost their way. there are a lot of scandals. they're losing support among both lack and white south africans. there is a void and i think that this will be emphasized by his passing. >> thank you. morning andst this for the entire bloomberg surveillance is our political analyst. so much of this
Bloomberg
Dec 5, 2013 8:00pm EST
. ♪ from our studios in new york city, this is "charlie rose." people buy stocks, on that basis alone, they are buying a stock. that is called bottom fishing in the stock market. it is very difficult. >> peter lynch is here. he is a best-selling author and a philanthropist. the magellanhe ran fund with average returns of almost 30%. it grewebony 7-1990, from 18 million dollars in assets to $14 billion in assets. he retired at the age of 46 and has dedicated his time and resources to give away a large portion of his fortune. i am pleased to have him back at this table. welcome. we have this wonderful interview. whatld occasionally say ever happened to peter lynch? it was one of those things. and whatever happened? that is my question. >> people will say he will start his own fund. >> he wants to do it all on his own. he does not need the great fidelity. have one gear, overdrive. it is hard to run a fun. i have a lovely wife, three children. i worked part-time with younger analysts. my father died at 46. he took sick when he was 43. job, the company, i worked every saturday for 11 years
Bloomberg
Dec 6, 2013 3:00pm EST
. that is why we've had protests yesterday in 100 cities, fast to get more trying money. so that creates a real issue as look at the restaurant stocks. right? because they may have to start paying more money, perhaps. did.s what we we tried to figure out who are the most profitable restaurants and who are the least and who risk.be at so take a look. panera. o ual sales for employee of $115,000. burger king, $106,000. mcdonald's, $64,000, wendy's wendy's, $57,000. mcdonald's, half asw and burger king. suddenly minimum wage going up, these are the guys who are going to get hit the hardest. case of wind yes -- wendy's, watch this. stock up 83% this year. say, wait. it's up 83%. it's only growing earnings at it's tradings and at 30 times. why would i necessarily want to long wendy's when there's this pending, perhaps, minimum wage issue? that's the problem. priorities completely backwards in this country. minimum wage, you're not making enough. workingetter off not and collecting on insurance. it's hard to fathom. >> unbelievable. really interesting. thank you for that. coming up next, we're going
Bloomberg
Dec 5, 2013 4:00am EST
launches around the world in six cities on four continents. it is a massive following all over the world. people cannot disassociate mustang from ford. the two words go absolutely hand-in-hand. >> coming up, maintaining momentum. george osborne gets set to give the statements as britain's recovery statements. what do businesses want to hear from him? we will delve into that next. ♪ >> american brands are opening their or doors here in the u k. the latest his home where company west elm. our european business correspondent, caroline hyde went to take a look and meet the ceo of the american retailer. this is attracting a lot of u.s. business. >> it is. she is head of the whole of sonoma.s- a propertyg, is it boom in the u k many are feeling that it might be a bubble. sell rather luxurious bedspreads and great soap is, cushions all the like. she always wanted to expand into europe. you can see the pictures of the store. it is quite inspirational. they are right next to heals, habitat, how are they going to set themselves apart? they are getting involved with local artists. they have insta
Bloomberg
Dec 7, 2013 12:30am EST
the kings and move the team to seattle. but a group partnered with the city of sacramento and came up with a clever real estate deal to help keep the team in california. >> i came to california with no money. i/o to thei have a state of california. owe to the state of california. >> they make analytic software to help companies like delta airlines understand their data. >> i created a mission, you want to build a winning franchise and make the world a better place. team or a shot a dream can think. >> just what i do for my software business, integrity, hard work, openness. i have got a vision. >> that'll do it for this edition of "sportfolio." thanks to our guests. and thank you for watching. for more video and sports business coverage, visit our website, bloomberg.com. i'm rick horrow. great to be with you. see you next time on "sportfolio." ♪ >> the following is a paid program. the opinions and views expressed do not reflect those of bloomberg l.p., its affiliates or its employees. >> what you are about to see is one ladder, the strongest, the safest, the most versatile ladder in
Bloomberg
Dec 4, 2013 8:00pm EST
in new york city, this is "charlie rose." almost one in every four children in the united states of america lives in a state of poverty. that is an outrage. one way to think about it, of the top 35 industrial countries in the world, we have the second highest poverty rates. >> stan druckenmiller is here. he maintained one of the best records on wall street. he orchestrated a campaign in colleges to educate and mobilize action on entitlement reform and government spending. he says that without a major overhaul soon, today's young people will be robbed of the future benefits and standard of living they deserve. i am pleased to have stan druckenmiller at this table. welcome. >> good to see you. >> can i just start with understanding you, this remarkable record with the george soros, where are you in your life? >> you mean what am i doing? wax yes. -- >> yes. >> i am still managing monday -- money actively. i go to work at about 6:00 and come home at about 6:00. i do that 12 hours a day. i am still in love with markets. the only thing that has changed as i'm not competing so i'm not
Bloomberg
Dec 5, 2013 2:00pm EST
the hood of the city of san jose police and fire retirement program. it has allotted 600 million of sean ishedge funds and here as a trustee of the fund. great to see you. eight percent is not good enough, but how are you trying to preserve the benefits for the people that need them and basically make changes that are realistic. away from the classic 60-40 allocation and got a much more diversified portfolio. a lot of different asset classes. >> i imagine you had to make that argument, was that like walking on broken glass? >> i worked with a couple different boards, and the fire police board has outside members that are citizens that worked in the hedge fund industry. it has been an easier process to update the allocation. >> as far as how you chose which ones, $600 million going into 15 funds, did you pick specialties? the ones we have seen outperform our obvious exceptions, but not global macro? very specific situations? >> we do have some exposure there. we have other funds that have struggled a little bit. we also have funds in that distressed credit space. >> each one is performing
Bloomberg
Dec 6, 2013 10:00am EST
is lower -- >> fast food workers in 100 cities across the country made a strike yesterday. they earn about nine dollars per hour. they want the minimum increased to $15 per hour. i want to bring in columbia university professor -- who focuses on labor inequality issues. i want to start with you. restaurant workers are calling for $15 per hour. don't they run the risk that mcdonald's or wendy's will cut the workforce? >> that is the myth. we have plenty of studies recently that show there are negligible employment effects when you raise the minimum wage. when you think about it, take the current employees -- $7.25 per hour. a big mac is three dollars. they could actually buy more big macs with the money. it would benefit mcdonald's as a company. they would not be working full- time. all americans should work hard. you're still living in poverty at the minimum wage. it is some economics. they are the consumers as well as the employees. they would consume more and create more demand for the very product that they sell. >> i think that makes a lot of sense. it certainly will hurt my margins. w
Bloomberg
Dec 6, 2013 12:00pm EST
you could ever imagine. not only did you have people who to areas fard outside of the main cities of south africa, who lived in shanties, one water fountain that served thousands and people brown, or white, and if you fell in the black category or the brown category, you simply could not be educated, you simply could not have a decent job. you worked in the mines for pennies. it was horrible and awful. it was even worse than what we therienced going through kind of discrimination here in this country. >> when you look at united as so fractious now, and we need to move forward, what lessons can we mandela forelson 2014 or 2016? >> what we have to understand is oppressed people will not endure oppression forever. if there is not equality and justice, and an opportunity for people to realize their potential and have a decent quality of life, that you are going to have confrontation eventually, that you cannot oppress people and expect them not to rise up. i think we need to understand that and we need to understand that we can live together, but for those people who really do not bel
Bloomberg
Dec 6, 2013 5:00pm EST
in new york city. this is "taking stock" on bloomberg. ♪ >> more americans attended a museum last year than all of major league sporting events combined. that is according to the american alliance on museums. st knows about the challenges of running a successful museum, running the ug museum across the river from manhattan. thank you for coming into "taking stock." somebody get to be a museum director? >> maybe if you are not really good in finance, you have to find another way. i have always been in love with art and i was very fortunate to find jobs in new york and in the arts. i was the first director of the we havert fund, which had extraordinary supporters, as has been the bloomberg company. i went on to lower manhattan cultural council in the pre-9/11 new york city, and then i was with the museum. i have been there 10 years and it has been an exciting trajectory. >> michael bloomberg is the founder and majority owner of bloomberg lp, the parent company of bloomberg media. the gucci museum, you combined the foundation with the museum. why that such an usual situation? , youd a pu
Bloomberg
Dec 6, 2013 8:00pm EST
building in new york city lit up in the colors of the south african flag in tribute to the late nelson mandela. i am mark crumpton. that is it for bottom line. have a great weekend. i will see you next time. ♪ >> from our studios in new york city, this is "charlie rose." >> we begin our coverage of the death of nelson mandela with a -- the cbs evening news. >> he was born july 18, 1918. him a namegave meaning "troublemaker," but later a school teacher in nelson. at 23.d to johannesburg he became one of the nation's first black lawyers and joined the opposition african national congress in the early 1940's, devoting himself to peacefully ending apartheid. 1960, peaceful black demonstrators were killed by white south african police in in infamous massacre. men alike came to believe the only reef force -- mandela came to believe then that the only recourse was violence. >> it is futile for us to continue talking peace and a governmentgainst whose reply is only savage attacks on an unarmed and defenseless people. >> he was arrested and sentenced to life for sabotage and conspiracy
Bloomberg
Dec 8, 2013 10:00pm EST
their way across the city. and terms of the scene on the ground, it is business as usual. traffic is moving better than it .ould on a normal weekday stay home and avoid the gridlock altogether. the question is what happens later today. the protesters say it is not enough that yingluck has decided to dissolve parliament and call elections. they want her to go. they want their own interim government to be installed. we will watch this story. >> we're getting these images coming from the government house where protesters are gathering. do we have any idea what will happen over the course of the rest of the day? >> it really is the unknown at this stage. protesters are contending on their way to the government house. the government has put back those barriers that they to go in last week to try to defuse some tension. restraint is the word here. yingluck says she does not want to see violence used against the protesters. that would not be ideal for anyone involved. we have a fresh memory of a few years ago of the deadly anti- government protest happened right here in the center of bangkok. some
Bloomberg
Dec 9, 2013 3:00pm EST
want to be along the euro now? this is the presentation out of city today to city clients trading at fx. down.ver it the gift that keeps on giving. here he is again. >> interesting. closer says europe is slowly making progress but it should not be your beacon of hope in 2014. .is book he got his start on wall street josh, welcome back. >> thanks for having me. all be thatnnot bad? class ethic think it has problems. the banking union is one of the big stories we will watch in 2014. we will move to a single supervisory mechanism. the problem is the banks still have a lot of troubled asset. there is little by way of resolution funds. about 50 billion resolution funds. you will have a lot of uncertainty as the stress tests comes out. moving toward the risk of deflation. address not a way to that if the ecb continues to push against the issue of qa. >> that is not a new concern. the deflation issue is out there. >> but now we have assets being moves. we do not have banks increasing provision, and we will have a tough year in the banking sector, still too integrated. i spoke to a european ban
Bloomberg
Dec 5, 2013 6:00pm EST
to sign for contracts. like innd problem is shanghai telecoms, you can't ge you're fromt if another city without paying a huge deposit. some other operators have been rolling out data service plans. those that decide to sign up are going to them to get the high end smart phones. bebeing big can sometimes bad if you draw attention to the fact you have so many subscribers. >> chinamobil's market share dropped the last three years. the competition is fierce. where thethird plenum government met, they'll try to stop the dominance. up may see a potential break ared to move gerae up. that's why it hasn't done well the last several years. >> what can you tell us about demand for home-grown names? the rise of products like lenovo? >> that's a great question. product,ths the cool it was also a major gifting purchase. like rolex. but what we've seen is the high end samsung galaxy line and domestic manufactureres. they're gaining market share. lenovo opened up a test center where people can play with products. they're cheaper and almost as good in many cases. i was interviewing banks, and they're b
Bloomberg
Dec 5, 2013 3:00pm EST
walking offer the job, but fast food workers are because of wages. it started in new york city last year. it has grown to about 100 city. in some washington are behind the workers. 53 accept a letter to mcdonald's, yum brands and others calling on companies to increase employee play. obama jumped in. he said they work their tales off and live barely above poverty. $10:10 support a minimum wage. they want $15. >> they want $15 minimum for any worker. >> think about this. if you had any relative that was working negligence a full-time job, one of these jobs, would you want them making that wage. >> the average wage is about $8.9 in these places. you are looking at $16,000 or $17,000 a year to make a living. nobody can make a living at that rate. >> if we all agree it is not going to hurt the economy to raise the minimum wage, why don't we raise it to $50? that is a much better idea. >> hang on. hang on. >> let's mac it $500. >> remember this. it is true if people make more, they are going to spend more, but it also means prices are going up. those dollar meals at mcdonald's, they won't be
Bloomberg
Dec 8, 2013 8:00pm EST
, japan and india. there is plenty of opportunity in china. ,he cities that we fly to direct service to singapore. it is a gold mine. >> when will you expand? are we looking at china? >> we already have four cities in china. we will certainly add more. in japan we have one. we will likely add more. australia, india. is there risk? is their concern? issues could pop up. >> i agree wholeheartedly. we are regulated by the same people. singapore doesn't 1 -- have one rule for other carriers. company.e same absolutely, there are issues. there is no reason for thinking that low-cost carriers are -- scoot expectations on higher than others given that it is a unit of singapore airlines which is associated with quality and quick service? >> i think the expectations regarding safety and liability and punctuation are there and absolutely right to be there. secret thatr made a we are a low-cost carrier. we provide very cheap when a to -- it is a very customizable product. in the beginning, perhaps people were unsure about how it would relate. over time, we have educated the market. >> let's brin
Bloomberg
Dec 4, 2013 7:00pm EST
the next year or so. >> fast food workers in cities around the country are going on strike for increased wages. what clues does the report give about the state of the labor market then? >> hiring had increased modestly. that is not what the fed is looking for in the job market. for the last couple of years, we have seen job destruction economy going relatively low. when you add all of those up, that trend is remarkably low. in a newissue has been hiring. we really will look to the smaller, newer firms to account for the job growth. those firms are still very much credit constrained. hiringould help the situation over the course of 2013. >> we have aut one minute left. on friday, as you know, we get the number four november. what are you expecting? if we see another strong month of hiring, might the fed be introducing -- at its next meeting? certainly some strong numbers could lead the fed to taper. it depends on how strong. you have a lot of seasonal issues going on with the labor market because of the holiday shopping season. you normally lose 2.5 million to 3 million workers. due to th
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